Wednesday, October 18, 2006

S&O's based on the 10/17/06 close.

YI: +4.5

Trying to hold some rising trend line support here: ACF, BHI, BKC, CY, ERIC, F, HMC, KEA, PBY, SCHW, TTH, and VZ
Trying to hold some falling trend line support: MU
Attempting to hold the 28 DMA here: AMZN, BAC, the BKX index, and GE
To no position for now: The XAU index.
Trying to break above some falling trend line resistance: CPB, NSC, STX, and the VXO
Attempting to break above the 28 DMA at this point: DO, gold, GLG, and KGC
Now up against some rising trend line resistance: LSS, NST, NXL, RIG, and the S&P-500.
Moderately overbought now: COP, EOG, ERF, FCX, FTO, LSI, PTR, SFY, SU, SWC, WMB, XLE, the XNG index, and the XOI index.
Standard overbought here: BAA and IFN
Extremely overbought now: IBM
Toppy in this area: SPC, T2104, TASR, TIE, WGII, WTS, and XLB
A possible top may be forming in this area for: MRK
Probable top at this point: MER
And of course as is always the case, anything posted here may be off base.

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